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Bitcoin??

Anyone investing in bitcoin?? I know there was some talk on here about how to use bitcoin to buy shit but what about investing in it?

For those who arenít aware bitcoin is a crypto currency. think banking without the fees. Itís a way to exchange money via decentralized banking. As we know money and banks aka jpmorgan and Wells Fargo rule the fucking world...tell the banks to eat a dick and man do u upset the Apple cart lol. Thatís another topic all together. Letís keep this at bitcoin investing ...

You canít invest in it like a stock...well yet. Hedge funds and wall street will be able to sink into it when it hits about $10k per bitcoin. Think of it more like investing in a foreign currency but with waaaaay more potential.

It was $4k per bitcoin beginning of last month. Itís now over $7k per bitcoin 🤔🤔

Curious if anyone else is horsing with it yet or knows someone that is?

My buddy is addicted to it like crack and wouldnít leave me alone about it so I threw some money at it to shut him up lol. I figured I have 3 kids I have to keep off stripper poles....time to bump up the 401k and invest more into my families future. I told him this shit better pan out cause that money was for a sweet race pistol lol.

All jokes aside the intel Iíve seen is pretty intense and this seems like an amazing potential still. Many ppl think itís capped out but the true geeks that really grasp it all....say hold onto your panties cause itís just starting??

Re: Bitcoin??

I have a friend that has made a killing investing in it. He got in long ago and just puts money in and lets it sit. He is always talking to me about it, but I keep feeling like I missed the prime windows, but then it just keeps going up over time and proving me wrong, so I continue to hold off and regret it each time I look back and see where it has come from. I just need to take even a little bit and make the jump in.

He has also talked to me about some of the other ones that are similar to bitcoin, but again I am a dumb ass and don't do anything as I am not as much of a risk taker as him. Probably the reason he has a much bigger bank account than I lol.

Re: Bitcoin??

I suspect bit coins is a bubble. there is a limit to 21 million coins .. and roughly 2/3 have been mined... Mining is running the block chain math to prove that the coin and tranaction is valid.. My question is what happens when they are all mined, then how do the miners get paid?

if they are not getting paid why would they power computers to confirm the transaction?
if there is no one to confirm the tranaction, who would take the coins?

The Winklevosses ( did you see the social network ...yeah those guys) have invested heavily in bitcoin, and own a lot.

a couple other points, roughly 1/3 of all bit coins mined have not been exchanged since 2012.
mean they are either in an account somewhere , or are just forgotten passwords , or forgotten wallets.

Also they are building special customized computers to handle the transaction...with large amount of the processing in China
on subsidized electricity.

there is a large number of people using video cards to process bitcoin mining...
just do a google search "bit mining video cards" and they have 6 top of the line video cards ,a massive power supply and take about 6 months to pay for themselves.
...until the next video card comes along ...

Finally look into the creator of bitcoin.... he used a false name to get things started, then disappeared for a few years, rumor has it he is sitting on billions that could flood the market ...BTW the Australian tax agency has issue with him for un-reported income.

I suspect the value comes from the amount that is being saved , prevents people from buying , with only 21 million coins ever , then the fact that they are not traded means there is a shortage.. and also there is the possibility that those coins that have not moved in 5 years could pop up....

bit coins was never designed as a saving account or investment vehicle, it was to be traded over the INTERNET ..and turned to cash on the other side .

finally since the whole value of the currency is based on faith and programing . Someone will hack it .. and then the price collapse.

there are a couple of other crypto currencies, but bitcoin is the big one ...
just don't bet the farm on it

like I said bitcoin is a hookey thing .. but like most things , it is always a little hookey at first

think of the Internet companies and home computers when they first came out .
now do you remember pets.com or commodore computers, there will be a surviving crypto currency , but which .
like I said there is a very limited amount of bitcoins flowing around
and a lot of them parked in wallets..
the Chinese are saving them , and then the country cracks down on them next thing you know there is a $1000 swing.
or in this case , a software upgrade that failed.

I would avoid silver and gold too..
Silver they do not mine because there is so much of it in the world, they just mine other metals ( nickel copper etc,,) and silver is an impurity that they collect and make bricks out of...

gold is more interesting, there is tons of gold being mined ,and then put on shelves and pallets.
people pay to store it , by polish and that is about it ...but really why do we need this , and it only has value because some one is willing to buy it... look at the last 7 years and gold is back to 2010 levels ...

couple of general rules , when Dems get into office , buy gold tobacco and gun stocks ...because repubs panic and stock pile...

when the repubs get into office sell the same ...

bitcoin was designed to ship money over the internet, not to be saved, an alternative currency or investment vehicle

Bitcoin??

Originally Posted by Big Hoss

Just read a headline on-line that Bitcoin just plunged more than a $1,000.00 in 48 hours. Way too inconsistent if you ask me.

There is a fork pending which is a good thing for bitcoin. Itís a friendly fork. Iím not saying sell the farm guys but Iím still confident itís sound with the I️ntel eye have so far has been spot on each step of the way.

Itís not the type of investment to buy and sit on forever. I️ plan on sitting on what I️ have until end of 2018.
Itís makes $10 a day interest already so Iím content.

Re: Bitcoin??

Also xdude usi-tech has a crypto currency thatís going to be public once it hits a certain #. They are using a way of free electricity to mine it patented by Ahern rentals. The owner of Ahern is apparently a nerd who figured out how to get free electricity to mine the new crypto